Ahead of the July 9 expiry of a 90-day tariff freeze, former US President Donald Trump said 12 countries will receive tariff letters starting Monday. These letters will detail new reciprocal tariffs, some reportedly as high as 70%, and take effect from August 1, 2025. The announcement comes as India and the US struggle to finalise a trade deal amid rising global trade tensions.

BulletsIn

• Trump to send tariff letters to 12 countries from Monday
• Tariffs up to 70% may apply from August 1, 2025
• India-US trade deal still pending; India refuses deadline-driven deals
• Letters carry ‘take it or leave it’ terms, per Trump
• Names of countries not disclosed; will be revealed Monday
• July 9 marks end of 90-day tariff suspension for talks
• Trump says sending letters is “easier than negotiations”
• April plan had 10% baseline tariff; higher rates for some
• Only UK and Vietnam trade deals concluded so far
• EU talks stalled; India trade deal remains incomplete